Taiwanese tech firms with factories in Mexico also saw sharp declines, with Foxconn dropping 8 per cent, Quanta falling around 10 per cent and Inventec down 8 per cent.
The US tariffs, set to take effect on Tuesday, impose a 25 per cent tax on all imports, excluding energy, from Canada and Mexico, and a 10 per cent levy on Chinese goods.
Japan’s Topix fell as much as 2.3 per cent while South Korea’s Kospi declined 2.4 per cent, led by losses for major exporters with global exposure, including electronics makers Samsung and LG and automaker Kia.
All major European stock markets fell by over one per cent while Japan’s market closed 2.7 per cent lower.
Automakers with operations in Mexico were hit the hardest by the bear run, with Toyota and Nissan falling over 5 per cent and South Korea’s Kia Motors dropping more than 7 per cent.
